Posted 10-14-2011 at 01:59 PM by madisonmortgage (Wisconsin Mortgage: FHA, VA, USDA, No Money Down, 203k, Refinance, Jumbo, Interest Only and First Time Home Buyer)
Welcome to Part 2 of our Wisconsin 203k series. Today we are going to cover the guidelines of the two types of 203k financing.
When purchasing or refinancing with a
203k loan the eligible mortgage amount is based of the projected value of the home after the improvements are completed. The appraisal is a two step process, the as-is value and the value after...